First-car buyer scheme to cost Bt70bn
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Deputy Finance Minister Tanusak Lek-uthai expects that a total number of 1 million vehicles would be entitled to tax rebates under the government's first-car buyer scheme, which will cost the government about Bt70 billion.
After the briefing on the project progress today, he told reporters that tax payers have filed for some Bt60 billion tax rebates for 910,000 vehicles. At present, about 30,000 individuals who have owned the vehicles for over a year have been granted partial rebates worth about Bt2 billion.
"The Excise Department has received filing for 35,000 vehicles per day nationwide. It is very likely that the total number would exceed 1 million," he said.
All who book vehicles before the end of this year are entitled to the rebates.
Tanusak said that despite the huge rebates involved, the government should be compensated by higher value-added tax and corporate tax as a result of the growing vehicle sales. He said that the government is calculating how much it will earn from these two items.
